Origin battle shows big super’s angst over the shrinking of the ASX
The tussle for Origin has shone renewed light on whether we should be worried about the ASX shrinking as big companies go private. Two of the giants of Aussie super have very different views.
It was mid-morning when the news swept across the floor of The Australian Financial Review Super & Wealth Summit in Melbourne. AustralianSuper, the nation’s largest fund, has announced plans to vote its 13.7 per cent in Origin Energy against Brookfield and EIG’s proposed $18.7 billion takeover.
Pretty quickly, attention switched to the obvious question: what price would AusSuper need to back the deal? The smoke signals suggest AusSuper wants Brookfield’s bid, currently priced at $8.81, to climb well into double figures and perhaps even as much as $12 a share.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
